Closer Look: Gov't Wants Proactive Tax Policies, but Ends Up with a Problem

(Beijing) – The country's fiscal policies this year are supposed to be proactive but have failed to achieve their purpose. Despite a likely record budget deficit, businesses were still squeezed as more money flew to the government.

While investment growth in October hit its lowest level in 13 years, national fiscal revenue grew by 9.4 percent year on year, an increase of 3.1 percentage points from September, data from the National Bureau of Statistics released on November 13 shows.